VAT

Chancellor George Osborne has dropped plans to limit the amount of tax relief on charitable giving, after listening to the concerns of charities.

The average standard VAT rates in the European Union's 27 countries have risen dramatically since 2008, a new report into taxation trends by the European Commission has found.

Plans to increase fuel duty by 3p should be axed in order to boost the UK economy and create thousands of jobs, campaigning group Fair Fuel UK has told the Government.

The Chancellor is facing mounting pressure from business groups and labour MPs to cut taxes in the upcoming Budget in order to stimulate economic growth and boost business.

HMRC has confirmed that from 1 April 2012, all VAT-registered businesses will have to send their VAT returns online and pay their VAT electronically.

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